Common use of Procedure for Lessor Advance Clause in Contracts

Procedure for Lessor Advance. (a) Upon receipt from the Construction Agent by the Agent of a Requisition pursuant to Section 4.2, and subject to the terms and conditions of this Agreement, the Lessor shall make an Advance in favor of the Construction Agent under the Lessor Commitment equal to five percent (5%) of the amount requested in such Requisition on the applicable Closing Date or on the date for any Construction Advance. The Lessor Advance shall accrue yield at the Lessor Yield from time to time.

Procedure for Lessor Advance. (a) Upon receipt from the Construction Agent by the Agent of a Requisition pursuant to Section 4.2, and subject to the terms and conditions of this Agreement, the Lessor shall make an Advance in favor of the Construction Agent under the Lessor Commitment equal to five six percent (56%) of the amount requested in such Requisition on the applicable Closing Date or on the date for any Construction Advance. The Lessor Advance shall accrue yield at be based on the Lessor Yield from time to timeEurodollar Rate or the ABR, as designated by the Construction Agent in the Requisition.

Procedure for Lessor Advance. (a) Upon receipt from the Construction Agent by the Agent of a Requisition pursuant to Section 4.2, and subject to the terms and conditions of this Agreement, the Lessor shall make an Advance in favor of the Construction Agent under the Lessor Commitment equal to five percent (5%) the amount of the amount requested in such Requisition Lessor Commitment on the applicable Closing Date or on the date for any Construction AdvanceDate. The Lessor Advance shall accrue yield at be based on the Lessor Yield from time to timeEurodollar Rate or the ABR, as designated by the Construction Agent in the Requisition.